Investing in property through a Self-Managed Super Fund (SMSF) can be a lucrative strategy for building retirement wealth. However, one of the critical considerations in this investment journey is understanding the land tax obligations that arise. Land tax, a state-based tax imposed on the total value of taxable land held at the end of the …
Maximizing Returns: Understanding Land Tax for Self-Managed Super Funds Read More »
For property owners in Victoria, understanding the state’s complex tax regime can be a daunting task. Victoria imposes a range of property-related taxes on local and foreign landowners, with additional taxes specifically targeting foreign buyers. As of 1 July 2024, several changes have come into effect, impacting how property transactions are taxed across five key …
Land Tax in Victoria: Navigating the Complex Landscape Read More »
At first glance, “salary sacrificing” might sound like the last thing you’d want to do. But in reality, this strategy—also known as salary packaging—can be a smart move, especially when it comes to reducing your tax burden. By sacrificing a portion of your take-home pay in exchange for benefits from your employer, such as superannuation, …
Want to pay less tax? This sacrifice could be worth making Read More »
Australian land tax is a crucial component of the country’s taxation system, with implications for property owners and investors. This article provides a comprehensive guide to Australian land tax, shedding light on how it works, who is affected, and what you can do to manage it effectively. Whether you’re a homeowner or a real estate …
Demystifying Australian Land Tax: What You Need to Know Read More »
Under Corporation Act 2001 (Cth), Cryptocurrency is categorised as a financial product. If you’ve bought, sold, or traded any goods in cryptocurrency you have a tax obligation to retain the record. Cryptocurrencies are also known as virtual currencies or digital currencies. There are many different types of cryptocurrency such as Bitcoin, Tether, Ether, and so …
Can You Avoid Remitting Your Land Tax? It is possible to stop paying your monthly land tax. However, that would mean you also stop purchasing more properties. How would that sound? I guess you wouldn’t want to give up on your investment property business. So, what should you do instead? Let’s find out! No …
Land tax is a tax payable based on the combined unimproved value of the land a person or entity owns. The land tax is calculated based on how much the land in question would be worth were it vacant. In other words, the land tax is payable on owned property and not the principal …